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Soft drink company Coca-Cola Amatil Limited (ASX:CCL) says it plans to go-ahead with its acquisition of beer brewer Foster’s Fiji Business for about $58 million.
Coca-Cola Amatil scored the right to buy Foster’s assets when it amended the terms of its Pacific Beverages joint venture with international brewer SABMiller, who acquired all of Foster’s last year.
Subject to approvals Coca-Cola says it will now proceed with buying the Figi breweries and distillery in Fiji and Samoa.
The company also remains in talks with SABMiller over the potential purchase of Foster's Australian non-alcoholic beverage business.
Shares in Coca-Cola Amatil rose 0.93 per cent on Friday, closing at $11.89.
Coca-Cola Amatil reported net profit of $592 million in the 2011 financial year.
